https://arab.news/6gk2s
British multinational oil and gas company Shell Plc has decided to exit all joint ventures with Russian gas giant Gazprom.
This includes its 27.5 percent stake in the Sakhalin-II liquefied natural gas facility, and its 50 percent stake in the Salym Petroleum Development.
“We are shocked by the loss of life in Ukraine, which we deplore, resulting from a senseless act of military aggression which threatens European security,” Shell CEO Ben van Beurden said in a statement.
Shell also said that it is intending to withdraw its involvement in Nord Stream 2, the offshore gas pipelines project.
Last week Germany announced it was halting progress on the controversial pipeline, which transports gas from Russia to the country.
The decision from Shell comes just a day after BP abandoned its stake in Russian oil giant Rosneft, a move that could cost the British behemoth $25 billion.